Towards AI-driven Finance: Apple acquires another AI startup to boost on-device LLM processing 🍎🤖; Klarna sells Hero's assets to Bambuser in a strategic shift 💸🤝

FinTech is Eating the World, 22 April

Hey Everyone,

Good morning! We’re starting another great FinTech week and we’re starting it strong 😤 Today we’re going to look at Apple that just acquired yet another AI startup to boost on-device LLM processing (what this is, why it’s significant + a deeper dive into how it can power Apple’s lead in building AI-driven finance & more bonus reads), and Klarna which just sold Hero's assets to Bambuser (what the strategic shift is all about + some bonus deep dives into Swedish FinTech giant). Let’s jump straight into the fascinating stuff 🌶

Towards AI-driven Finance: Apple acquires another AI startup to boost on-device LLM processing 🍎🤖

The news 🗞️ Apple has quietly acquired Datakalab, a Paris-based artificial intelligence startup specializing in on-device AI processing, algorithm compression, and computer vision technology.

The acquisition, finalized on 17 December 2023, is yet another strategic move by Apple to enhance its AI capabilities and deliver sophisticated AI tools on its devices.

Let’s take a closer look at this, see why it’s significant, and how it can power Apple’s lead in building AI-driven finance.